- India's GDP grew 7.8% in Q1 of financial year 2027, official data shows
- This growth rate surpassed the Reserve Bank of India's forecast for the quarter
- The previous year's Q1 GDP growth was recorded at 6.9%
India's Gross Domestic Product (GDP) growth jumped to 7.8 per cent in the first quarter of financial year 2027 (FY27), government data released on Monday showed, beating the Reserve Bank of India's (RBI) estimates. Prime Minister Narendra Modi termed the growth as "exemplary".
The GDP growth in the April-June quarter was lower than the preceding one, which came in at 8.6 per cent, but was higher than that of the same quarter last financial year. The Indian economy in the April-June quarter last year grew at 6.9 per cent.
The RBI had previously estimated the Indian economy to grow at 7 per cent in the first quarter.
According to data from the Ministry of Statistics and Programme Implementation (MoSPI), sectors including financial, real estate, IT and professional services boosted India's growth in the first quarter of FY27.
Prime Minister Narendra Modi said that achieving the growth was a "herculean feat".
"India's exemplary GDP growth of 7.8% during Q1 of FY 2026-27 is a herculean feat," he wrote in an X post.
He further said India "bloomed", crediting the collective strength of people. "Doomsayers were doomed and India bloomed...yet again!"
Real GDP or GDP at Constant Prices in Q1 was estimated at Rs 81.36 lakh crore, as against Rs 75.46 lakh crore in the same quarter last year, brining the growth rate to 7.8 per cent.
"Indian economy has sustained growth momentum despite global headwinds," the ministry said in its statement.
Nominal GDP, which represents the value of goods and services without accounting for inflation, witnessed a growth of 10.3 per cent in Q1 FY27, against a growth of 8.1 per cent during the same period in the previous financial year. It was estimated at Rs 88.27 lakh crore. Union Finance Minister Nirmala Sitharaman credited India's growth to the "hard work" of Indians.
"The credit for this strong performance goes to the people of India and their hard work. Reforms undertaken by the NDA Government, together with an agile management of the economy, are bearing results," she wrote in a post on X.
She further said that the NDA government was "committed to further expanding economic opportunities for all our citizens."
Meanwhile, the country's industrial output increased by 6.7 per cent in July from 8.8 per cent in the preceding month, mainly due to a contraction in the mining sector.
"In July 2026, the Index of Industrial Production recorded a 6.7 per cent year-on-year growth, supported by 7.3 per cent growth in the manufacturing sector and strong growth of 8.7 per cent in the Electricity and Gas Supply sector," the National Statistics Office said in a release on Friday.
The data showed that the mining and quarrying contracted by 0.9 per cent in July against 10.7 per cent growth a year ago.
